Page 81 - Iconic Restaurateurs - The Entrepreneur Mag Ed. 3

Newsroom 3. Write a Restaurant Business Plan

Having a thorough business plan is essential when reaching
out to investors and applying for restaurant loans to start your
restaurant. It will also help you develop your strategy and flesh
out the feasibility of your restaurant’s details. Below are the main
components of a restaurant business plan.
4. Obtain Funding
Estimate the total startup costs you will need to get your restaurant
started and the amount needed to keep your restaurant functioning

1. Choose a Restaurant Concept and Brand
When starting a restaurant, it's important to have a clear concept
and brand. Your restaurant concept includes the service style of
your restaurant, the food you serve, and the ambiance of your
restaurant. This goes hand-in-hand with your brand, which forms
your restaurant’s identity, personality, and mission. Your brand is
the intangible force behind your
restaurant concept, and your
restaurant concept is kind of like
The 101’s
your brand in action.

2. Form Your Menu Items
Before you open your on a day-to-day basis. You should then create a budget and predict
restaurant, you'll want to the next year to know how much you will need to stay in business.
of establish some basic food items 5. Choose a Location and Lease a Commercial Space
that your menu will feature.
When choosing a location for your new restaurant, the following
Deciding what will be on your
features are among the most important;
menu is important when figuring
establishing a out the equipment you need, the
restaurant
staff you will hire, and the crowd
you hope to draw.

Opening a restaurant requires juggling many moving parts and can feel

like a difficult undertaking. But the procedure is a more manageable
feat when broken down. If you're curious about how to open a Visibility and accessibility: Select a spot that can be seen by
restaurant, check out this 11-step guide to navigate you through the those driving or walking by. You should also look for an area that
gets plenty of passersby on foot or in cars. In addition, consider if
process as extracted from webstaurantstore.com there is parking and ease of access by foot or car.

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